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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (5060)	9/10/1999 5:29:00 PM
From: Jibacoa	Read Replies (2) of 13094

Another Biotech that seems to try to come up from the dead is Matritech (MNPS). A couple of years ago it went as high as 17 when they were waiting for FDA approval of their test for bladder cancer. They got the approval but only for patients that already had surgery for bladder Ca, not for asymptomatic undiagnosed cases. The stock tanked and for the past several months had been below the $1 after been delisted from the NASDAQ. Two days ago they announced they had a new protein that could be used for diagnosis of breast cancer.(only a series of 20 patients on Phase I) The stock has gone up more than 300%. I remenber Biomira had a test approved by the FDA for diagnosis of metastatic breast Ca. They decided to sell it because they felt they had a better outlook in the vaccine field. I suppose MNPS immediate future is not good, since before any FDA approval they will have to do a phase III and it is going to cost a lot of money and time. Bernard

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